EURUSD – Too much for consolidation... needs a direction

FX:EURUSD   Euro / U.S. Dollar
1873 24
Price is range-bound between 1.17 and 1.19 since end of August. Today this consolidation channel might be broken. I expect remarkable volatility after release of FOMC Meeting Minutes today.
Actually we have priced in already what we heard from FOMC members, so there shall be something extra hawkish in the minutes to see (maybe a clue regarding a possible rate hike in December). This may give way to a SHS_formation, price extending down to 1.14.
In case of no further clue, the price may jump up to 1.19-1.21 band. But personally I do not expect a new higher high this year.
Your charts are the best! :)
I'm riding EURUSD down as far as I see safe! So far so good, your analysis is helping me learn so thank you so much!
Harmony and fun. i like that connection.
Wow! I like the picture
wow amazing and fun analysis
That's a very nice bet, I see that pair will take sometime before it breaks down as now the traders ratio is net short that make the pair to flex muscles upward a bit, having the Fed minutes in consideration, the minutes are very much to send the dollar higher but the net short ratio is holding the pair from going down at this time, hope that situation will improve by the Asian session
+1 Reply
Great post. Great analysis.
+1 Reply
great idea
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